Last Updated on Apr 16, 2020 by James W
You love to paint, and you’re really good at it. So maybe you’re considering getting into business for yourself. This could pay off big. However, starting up a business has some upfront costs with it, and it could put a huge dent on your budget.
In that case, you may want to bookmark this article, as we will give you 9 tips to start a painting company on a budget. We will cover the following topics:
- Business entity
- Legalities and formalities
- Improvising advertising
- Tools for the job
- Doing the job
- Managing the books
- Post-job PR
- Your work truck
The fees and formalities are higher and more involved for corporations and LLC’s. So if you’re on a budget, you may want to select the sole proprietor option, at least for now.
Legalities and formalities
Here is a partial list of things you need to put in order:
- Purchase liability insurance
- Get licensed (if required in your area)
- Decide on your business name
- Register your business name (if required)
- Open a bank account
In terms of budget, business cards have been, and still are, effective advertising tools. Plus they are cost-effective. You can get a good supply of them very affordably.
If you don’t know how to do an estimate, learn it A.S.A.P. This is an important part of your business. You want to learn to charge a price that is not only fair to your customer – it should also be fair to you.
If you would like to check out a solid guide to estimating, then click here: How To Bid A Paint Job.
Tools for the job
You already know about the obvious things like brushes, rollers, drop cloths, etc. However, if you want to save time, particularly on estimates, then you might want to get a laser measurer.
Doing the job
Obviously, you’re smart enough to realize the importance of doing the job well, and keeping the job site clean, etc.
However, you may want to avoid the following:
- Foul language
- Being rude, disrespectful or argumentative
- Taking liberties – raiding the refrigerator, etc.
Managing the books
You may not be ready financially to invest in bookkeeping software, so here are a couple alternatives:
- Use Excel or another spreadsheet program if you have it.
- Get a ledger book.
Follow up with your customers a short time after you finished their job. Show personal interest in them in addition to talking business. Work out any problems they have. Ask for referrals.
Things like this will go a long way in your business.
Your work truck
If you don’t have a work truck, and buying one is out of the question, then you should consider renting your work truck from Flex Fleet van rentals.
Wherever you might be in the lower 48 states, this is a company that:
- Has a wide variety of trucks to choose from
- Will rent you the right truck for the job
- Has no restrictions on things like driving out of state or off-road
- Has the ability to deliver your truck onsite
- Give you the entire package, and excellent customer service, for a price that will fit your budget.
These 9 tips may seem like a lot to swallow, but to the extent that they apply to you, they’re bound to save you a lot of money in your first year – as well as a lot of hassle. Keep this as a reference so you can keep on top of anything that has an impact on your business.